Perpetuating Divides Between Creditors and Debtors
Wealthy countries combat the economic downturn through debt-financed spending and economic stimulus, while low- and middle-income countries in the Global South are caught in an unfolding debt trap. The legacies of colonialism and past geographies of sovereign debt in the Global South are being reinforced in times of COVID, with long-standing approaches to international lending promoting creditors’ interests over debt relief. ...